Gold Coast Mining Announces Corporate Update

The Company is pleased to announce that it has commenced the steps to establish a subsidiary. The subsidiary will be incorporated in the State of Colorado. A name has been selected and the Company is working with a legal consultant to complete the required filings.

Further, the Company negotiations with Gelpid and its principal has progressed resulting in issuance of revised term sheet.

CEO Michael Shea states, "I am pleased with the progress of the negotiations and despite being a judgment holder, Gelpid and its principals are sincerely interested in seeing Gold Coast succeed. I realize shareholders want an expedient and successful conclusion to these negotiations. I will continue to provide updates as events unfold."

ABOUT GOLD COAST MINING

Gold Coast Mining Corp. is a holding company with interests in the mining and energy sectors. The Company's goal is create a vertically integrated oil division and continue its diversification into other high growth industries. The primary goal is generate cash flow to sustain and grow profitability.

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance.